mortgage markets and the enterprises in 2004 august 2005 preface this office of federal housing enterprise oversight ofheo research paper reviews developments sector primary market secondary activity fannie mae freddie mac financial performance an appendix provides tables with historical data on activities federally established loan limits interest rates regional national home prices which provide a context for survey recent provided is part s ongoing effort to enhance public understanding nation finance system was prepared by valerie l smith laura goren chris broderick stephen blumenthal acting director contents page summary 1 2 economy continues road recovery reserve adopts more neutral stance remain low remains strong 4 demand continued boost house price increases 5 single family originations fall sharply 6 end period declining puts brake refinancings
